Advanced Drainage Systems, Inc. (NYSE:WMS) Shares Bought by Cerity Partners LLC

Cerity Partners LLC lifted its position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 428.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 22,449 shares of the construction company’s stock after acquiring an additional 18,204 shares during the quarter. Cerity Partners LLC’s holdings in Advanced Drainage Systems were worth $3,157,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Contravisory Investment Management Inc. purchased a new position in Advanced Drainage Systems in the fourth quarter worth approximately $27,000. NBC Securities Inc. acquired a new position in shares of Advanced Drainage Systems in the 3rd quarter valued at $25,000. Neo Ivy Capital Management purchased a new position in shares of Advanced Drainage Systems during the 2nd quarter worth $33,000. Belpointe Asset Management LLC increased its position in shares of Advanced Drainage Systems by 47.8% during the 1st quarter. Belpointe Asset Management LLC now owns 495 shares of the construction company’s stock worth $42,000 after purchasing an additional 160 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in Advanced Drainage Systems in the 3rd quarter valued at about $82,000. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Insider Transactions at Advanced Drainage Systems

In other Advanced Drainage Systems news, Director Ross M. Jones sold 762,895 shares of Advanced Drainage Systems stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $163.00, for a total transaction of $124,351,885.00. Following the completion of the sale, the director now directly owns 70,749 shares of the company’s stock, valued at approximately $11,532,087. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Michael G. Huebert sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $163.52, for a total transaction of $1,635,200.00. Following the transaction, the executive vice president now owns 13,450 shares in the company, valued at approximately $2,199,344. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ross M. Jones sold 762,895 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $163.00, for a total value of $124,351,885.00. Following the completion of the sale, the director now directly owns 70,749 shares of the company’s stock, valued at $11,532,087. The disclosure for this sale can be found here. Corporate insiders own 3.79% of the company’s stock.

Advanced Drainage Systems Price Performance

Advanced Drainage Systems stock opened at $156.87 on Thursday. The company has a quick ratio of 2.04, a current ratio of 3.03 and a debt-to-equity ratio of 1.18. Advanced Drainage Systems, Inc. has a 52-week low of $80.41 and a 52-week high of $176.31. The firm has a market cap of $12.18 billion, a PE ratio of 24.94, a price-to-earnings-growth ratio of 1.41 and a beta of 1.50. The company’s 50 day moving average is $164.93 and its two-hundred day moving average is $138.47.

Advanced Drainage Systems (NYSE:WMS) last announced its quarterly earnings data on Thursday, February 8th. The construction company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.44. Advanced Drainage Systems had a return on equity of 49.79% and a net margin of 17.65%. The business had revenue of $662.37 million for the quarter, compared to analysts’ expectations of $632.69 million. During the same period last year, the firm earned $0.99 earnings per share. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. On average, research analysts expect that Advanced Drainage Systems, Inc. will post 6.07 EPS for the current fiscal year.

Advanced Drainage Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.36%. The ex-dividend date of this dividend was Thursday, February 29th. Advanced Drainage Systems’s payout ratio is presently 8.90%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on WMS shares. KeyCorp increased their target price on shares of Advanced Drainage Systems from $160.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday, February 9th. Stephens boosted their target price on Advanced Drainage Systems from $138.00 to $182.00 and gave the company an “overweight” rating in a research report on Friday, February 9th. Finally, StockNews.com lowered Advanced Drainage Systems from a “buy” rating to a “hold” rating in a research report on Monday, April 8th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Advanced Drainage Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $155.13.

About Advanced Drainage Systems

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products, and drainage solutions for use in the construction and agriculture marketplaces in the United States, Canada, Mexico, and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments.